Biopharma company hits milestone for Indy plant

INDIANAPOLIS (Inside INdiana Business) — Canada-based POINT Biopharma Inc. has cleared a key hurdle for its new production facility in Indianapolis. The U.S. Nuclear Regulatory Commission has issued a materials license for the radiopharmaceutical company’s facility, which authorizes the handling of nuclear material in chemical or physical form.

Last May, POINT Biopharma announced plans to invest $25 million to acquire and renovate a manufacturing center on the city’s northwest side and create more than 100 jobs. The company says it is finishing renovations at the facility and the NRC license will allow it to begin work with a variety of radioisotopes on-site.

“The completion of our Indianapolis facility and scope of this Materials License will enable POINT to quickly bring its drug manufacturing operations online,” said Todd Hockemeyer, executive vice president of U.S. manufacturing operations at POINT Biopharma. “Our mission is to make radioligand therapy applicable to more cancers, available to more people, thereby improving the lives of cancer patients and their families everywhere. This Materials License is an important milestone in our journey to deliver on our mission.”

The company will use the facility to produce and distribute 400,000 doses of its next generation cancer treatments known as radioligands. The company expects the Indy facility to begin providing treatments for its Phase 3 clinical trial targeting metastatic castration resistant prostate cancer later this year.

After the announcement of the facility was made last year, Chief Executive Officer Joe McCann appeared on Inside INdiana Business with Gerry Dick to talk about the project. You can watch the full interview by clicking here.